Jingxing Paper to redeem convertible bonds, alters conversion source

Zhejiang Jingxing Paper Joint Stock announced the early redemption of its "Jingxing convertible bonds" at CNY 100.290 per bond, inclusive of current interest and tax. The redemption, effective from October 23, 2025, follows the company's stock price meeting the required threshold for 15 trading days. The bonds will cease trading and converting to shares on October 23, 2025, before delisting from the Shenzhen Stock Exchange.

In a related development, the company has modified the conversion source for its bonds. Effective September 29, 2025, the new policy prioritizes repurchased treasury shares for conversion, with additional new shares to be issued if insufficient. As of September 22, 2025, 74.01% of the bonds have already been converted, totaling 279,208,056 A-shares. The current conversion price is CNY 3.39 per share, adjusted from CNY 3.40 in July 2024 and CNY 3.38 in November 2024.

The company has repurchased 1,293,300 shares, representing 0.1021% of its total share capital, with a total value of CNY 4,574,147.00. Investors holding "Jingxing convertible bonds" are urged to convert their bonds by the deadline to avoid potential losses.